Omaha daily bee., 1887-02-06
NORTH OF THE CITY.
Mr.. II. G. Patterson's Views on the
Value of Land IN the Valley
North OF the Clty

NOftn OF tne C1ty.
In the excitement over real estate and
the opportunities for making big margins,
the attention of everybody has naturally
been drawn towards that class OF real
estate which has been doomed the most,
and in their eagernesS to gather IN II
share of the profits have in a measure
lost sight of what our old and most level
headed citizens have for many years re-
garded as the land above all other that was
destined to become immensely valuable, if
not the most valuable of any in or about
Omaha. We refer to the valley north of
the city.
If any one doubts, let him count up the
cost OF ground necessary to accommodate
the Iowa railroads if taken III any other
part of the city.
1T they were to enter the city over the
present bridge at least 800 acres would be
required for trackage, or about / ,l20 lots
NJ $4,000 each, making the 32O acres cost
about $l1,200,000. Eleven million
two hundred thousand dollars, or IN
other. words so great II sum
as to forever put at rest all thoughts of
their ever entering Omaha over that
route,
The next chance is for these roads to
get in over q bridge of their own in the
north part of the city. A new bridge
could be built for say $780, while 800
acres could be bought for $72o per acre,
or ,$s4O, ,00o making total cost for
bridge and land of $40, 900. or q saving
in favor of the north part of the city of
$40. 46O, 600, in addition to which the rail
roads wonld then own their own bridge
and OF course have no tolls TO pay 1t
would be but reasonable to suppose with
a union bridge and the concentration of
business of the railroads on their new
purchase of 800 acres, it would become
a IA
acres near the present bridge, and it
might be considered certain that the
roads would buy all the land they could
get instead OF being content with 320
acres, all of which would
increase in value until the saving and
profit in favor of North Omaha would
become so great ms TO be almost beyond
competition, and it is in view of these
facts becoming clear TO the thinking peo-
pie of Omaha that "a boom such as was
meyer witnessed in this city is in store Tor
the valley north of the city and the man
who is fortunate enough to own or be-
come the owner OF real estate on the So
called bottoms will lind himself so sud
denly enriched one of these days that he
will not be able to comprehend that the
suddenly acquired wealth is really his
own. 1t is mistaken idea that many
people have that the valley is all low,
and 1t was great surprise to the sub
scrlber upon investigating Tor himself To
find many elegant old farms scattered
over the valley which he had looked
upon as the home OF the festive bull
frog"
- In fact there is but little swamp land
on the valley and in reality is great
deal of very good and very valuable
ground which seems to have heretofore
escaped the notice of many of our bright
est real estate men, and even of the raIl
roads and their wide-awake agents.
Now that the boom has commenced il
Is safe to say land on the valley, any
where within four or five miles of the
shops, will find takers fast enough L
suit the most ambitious seller.
My reasons tor thus investigating anS
setting forth my views are that hereto
fore | have myself had most erroneou
Impression of this valley and have man,
times spoken OF it in no complimentary.
way to those who came to me Tor my ad
vice and opinion, and perhaps to the IN
jury of those who had on their judgmen
Invested their money there, Hence
deem il but just that l should set mysel
right on the premises.
Il. c. PATTERSON.
DIR. Hanchett, Homepath, 1928 5. l5tf